Investments in Indian artificial intelligence (AI) start-ups have slowed down this year due to a funding winter, and the introduction of OpenAI’s ChatGPT. According to data from Venture Intelligence, $510m has been invested in 28 deals from January to May, half of last year’s average per five months of $1.02bn, signalling a slow rate of investments this year. Furthermore, funding to start-ups in general has dropped by 80% in this year’s first five months than in the same period last year. However, investors remain bullish, and expect the industry to begin growing again soon.
Funding for Domestic AI Startups in India Halves Under ChatGPT Shadow as Investors Call for India-Focused Solutions
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